Voyager Digital removes customer assets from Celsius

Voyager Digital, a former key arm fund-type partner with Celsius, has announced that it has already pulled all of its customer assets off the platform.



Celsius had previously announced that withdrawals had been suspended, leading to speculation that the company had gone insolvent.


The company's decision to depart Celsius was based on "due diligence and risk management practices," according to the news release. Voyager Digital CEO Steve Erlich claimed in an interview on June 13 that the company's connection with Celsius ended "a while ago."


"Our customers' assets are safe," he adds, "and we are processing everything as usual."


Voyager is a publicly traded company with compliance and regulatory standards to meet. At the start of the year, the Canadian firm's market capitalization was $1.8 billion. It presently has a market value of $300 million.


The company has lost 86% of its worth in the first half of the year, coinciding with the collapse of cryptocurrency markets.


Voyager Digital stressed its "consistently high degree of transparency" and "risk management policies" in a press statement. Despite this year's low stock performance, it told the public that it "maintains a strong position" and "has great financial competence."


Nonetheless, Voyager Digital has already been served with a cease-and-desist order by US authorities. Voyager was ordered by state regulators in Indiana, Kentucky, New Jersey, Oklahoma, Alabama, Texas, Vermont, and Washington to stop providing interest-bearing crypto accounts.


Similar directions were issued to Celsius by US securities regulators. Both companies are also under investigation by the Securities and Exchange Commission.